§ 24353 Self-Insurance Certificate Requirements

• •You can prove you have enough money to pay for accidents yourself instead of buying insurance.
• •The government checks if you really have enough money to cover costs if something bad happens.
• •If they say yes, you get a special paper saying you don’t need regular insurance.
• •You must keep having enough money the whole time, not just when you apply.

A big company with lots of trucks wants to save money on insurance.

The company shows the government it has $5 million in the bank to pay for any crashes its trucks cause. The government checks and gives them a special paper so they don’t have to buy regular truck insurance.